Apr 2024 - Monad Fake Token Rug Pull - $266k (Global)
"Extreme Parallelized Performance
Superscalar Pipelining for the EVM
Monad is a decentralized, developer-forward Layer 1 smart contract platform that ushers in a new paradigm of possibility through pipelined execution of Ethereum transactions.
Crafted for productivity, fundamentally optimized."
"Monad supports 10,000 transactions per second, significantly increasing throughput capabilities and opening doors for distributed applications--even those with greater complexity and higher usage--to run in a decentralized manner."
"Fake Monad on ETH is suspected of a rug pull, with the deployer removing substantial liquidity, causing a 100% price decline."
Further Analysis
Monad is a blockchain which specializes in offering high throughput through parallel execution. In early April a fake Monad token was launched and had the liquidity (74 ETH) pulled out.
How Could This Have Been Prevented?
More Cryptocurrency Exchange Hacks/Scams/Frauds
Empower AI Token Rug Pull > > < < Truflation Fake Token Rug Pull
Sources/Further Reading
SlowMist Hacked - SlowMist Zone (Dec 31)
https://www.dextools.io/app/cn/ether/pair-explorer/0x6c2cf17a556053f9e315e5aba8af57686b6af68f (Dec 31)
Monad | Extreme Parallelized Performance for EVM (Dec 31)
@monad_xyz Twitter (Dec 31)
Blockchain Developer Monad Labs Raises $225M Led by Paradigm (Dec 31)
Paradigm leads $225 million round for Monad Labs, which is building a layer 1 blockchain to take on Ethereum and Solana | Fortune Crypto (Dec 31)
@monad_xyz Twitter (Dec 31)
Does Monad Crypto Have Potential to Replace Solana? - YouTube (Dec 31)
Ethereum Transaction Hash (Txhash) Details | Etherscan
(Dec 31)
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